Citadel Capital Managing Director Karim Sadek tells attendees at the World Economic Forum on Africa that 'one billion Africans' are a key competitive advantage that make Africa one of the most intriguing investment destinations in the world
Citadel Capital, the leading private equity firm in the Middle East and Africa, made a strong case for Africa’s growth potential at the 20th World Economic Forum on Africa held in Dar El-Salam, Tanzania, on May 5-7 May 2010. Based in Cairo and controlling investments of US$ 8.3 billion in 15 industries spanning 14 countries, Citadel Capital is independently ranked the largest private equity firm in Africa by PE assets under management.
“Africa’s population has reached one billion and is set to grow faster than in any other part of the world in the coming decades. While some may view this as a challenge, we believe that demography is strong component of the case supporting private investment in Africa,” said Citadel Capital Managing Director Karim Sadek. “The African consumer and worker, who is too often overlooked, is the continent’s unknown engine of growth.”
Sadek went on to point out that infrastructure will be key to unlocking the demographic dividend by connecting local producers to national markets, national markets to regional hubs, and regional hubs to global export territories.
“Infrastructure development is critical to turning Africa’s rapidly growing population into a robust domestic market. This is particularly critical for a continent on which there are more than 20 countries with populations of less than 5 million, more than 20 countries with economies smaller than US$ 5 billion annually, and 15 landlocked nations. The result, of course, is that most infrastructure tends to be national or regional.”
He also noted that Citadel Capital’s unique private equity model, which provides local firms and industries with financial resources and global management excellence, is ideal for the types of investments that Africa currently needs.
As the largest private equity firm in Africa, Citadel Capital (CCAP.CA on the Egyptian Stock Exchange), currently has nine Platform Companies with exposure to non-Egyptian Africa in industries including mining, oil and gas, electricity generation, cement, banking, agriculture, agrifoods, transportation and logistics. Among Citadel Capital’s most recent investments in Africa were its acquisition of a 51% stake in Rift Valley Railways of Kenya-Uganda, the founding of greenfield operator Nile Valley Railways in Sudan, and the signing of a 30-year land lease for El-Nahda for Integrated Solutions, which is building Sudan’s first commercial rice farm.
Citadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity in the Middle East and Africa. Citadel Capital focuses on building regional platforms in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity Specific Funds. Citadel Capital’s 19 OSFs now control Platform Companies with investments worth more than US$ 8.3 billion in 14 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, the firm has generated more than US$ 2.5 billion in cash returns to its co-investors and shareholders (on investments of US$ 650 million), more than any other private equity firm in the region. Citadel Capital is the largest private equity firm in Africa by PE assets under management (2004-2009, as ranked by Private Equity International). For more information, please visit www.citadelcapital.com.
For more information, please contact:
Ms. Ghada Hammouda
Head of Corporate Communications
Citadel Capital (S.A.E.)
g...@qalaaholdings.com (click to reveal this email)
Tel: +20 2 2791-4440 begin_of_the_skype_highlighting +20 2 2791-4440 end_of_the_skype_highlighting • Fax: +20 22 791-4448
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